Club’s primary partner since 2017
Newcastle United have extended their primary sponsorship agreement with FUN88 for another three years.
FUN88 has been the English Premier League club’s main kit sponsor since the summer of 2017. Its logo appears on players’ first team jerseys and training wear.
The Asian online gambling brand has been operating since 2008, offering online sports betting, casino games, and live dealer games across the world. It interacts closely with Newcastle fans through social media, offering them a chance to win jerseys, tickets, and fan experience giveaways.
FUN88 has been the English Premier League club’s main kit sponsor since the summer of 2017
Speaking about this sponsorship renewal was Lee Charnley, managing director of Newcastle United. He said: “Building on the success of our partnership to date, we look forward to this next phase and working together to engage fans and grow our collective reach around the globe.”
The announcement of this long-term sponsorship extension with FUN88 comes at a time when there has been a strong push to end the relationship between gambling companies and sports teams in the UK. These types of deals are a lucrative source of revenue for clubs, but there are concerns about the impact of these gambling messages to young and vulnerable fans.
Politicians in the UK are confident that there could be a ban on gambling comapnies sponsoring soccer jerseys as part of an updated UK Gambling Act. A House of Lords select committee has suggested this measure along with 65 other recommendations to improve the region’s gambling scene.
In Spain, the Ministry of Consumer Affairs is also pushing for a complete ban on gambling companies sponsoring the jerseys of La Liga teams. This is already a rule for sports teams and leagues in Italy.
A busy time for the club
The Magpies have been the subject of much speculation in recent times about a potentially massive takeover deal. The club has been up for sale since 2017, with current owner Mike Ashley looking to please frustrated fans by finally finding a new owner. The Premier League has been informed that a deal is close to completion.
the deal could be worth £300m ($377.7m)
The party that has been looking to buy the club is the Public Investment Fund (PIF) of Saudi Arabia. This fund is headed by the Crown Prince Mohammed bin Salman, and a reported deal will see Saudi’s PIF acquire an 80% stake in the club. A 10% stake could also be given to the Reuben brothers and PCP Capital Partners.
PIF is the sovereign wealth fund in Saudi Arabia and invests in all sorts of projects across the globe. PCP Capital Partners is a venture capital firm, while the Reuben brothers are involved in property investment. According to reports, the deal could be worth £300m ($377.7m).